Entertainment

Disney Soars on Strong Results Ahead of Face-Off With Peltz

Management issues rare profit forecast — projecting a big beat
Quarterly revenue, Disney+ subscribers fall short of estimates

WATCH: Disney posted better-than-expected earnings and gave an upbeat outlook. Bloomberg Intelligence’s Geetha Ranganathan breaks down the results.Source: Bloomberg

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By Thomas Buckley

February 7, 2024 at 9:05 PM UTC

Updated on

February 8, 2024 at 2:59 PM UTC

This article is for subscribers only.

Walt Disney Co. shares rose as much as 10.5%, the biggest intraday gain since Dec. 2020, after reporting better-than-expected earnings for its fiscal first quarter.

The entertainment giant issued an upbeat profit outlook for the year, giving Chief Executive Officer Bob Iger ammunition to deflect proxy challenges at its shareholder meeting this spring.